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Upside Partnership Closes $30M Fund, Offers Seed Capital, Stake in Portfolio
July 14, 2014 /
Upside will give every founder it backs a share of the firm’s returns along with seed money to build his or her own startup. Mr. Goldman said he will take a "standard" venture capital carry (or roughly 20%) of the returns and will peel out as much as 50% of that amount to divide among the founders. The idea is to provide incentives to founders to share best practices, serve as beta testers and otherwise help each other. Although founders in venture firms’ portfolios often do this naturally, Mr. Goldman said he wanted to cement it as part of the firm’s DNA.
By
Lizette Chapman
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Posted in: Funding and Building your Business